Rudolfo owns Rudolfo's Italian Ristorante in the Little Italy section of New York City. He wants...
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Rudolfo owns Rudolfo's Italian Ristorante in the Little Italy section of New York City. He wants to compare last year's costs to this year's costs on his food expense schedule to see how he performed in each food category. (1) Help Rudolfo complete his schedule by filling in the blanks in the chart below (6 points). Rudolfo's Food Expense Schedule Food Sales Cost of Food Sold Meats and Seafood Fruits and Vegetables Dairy Baked Goods Other Total Cost of Food Sold Last Year $2,836,517 $386,734 122,915 71,951 20,985 323,778 % of Food Sales This Year $3,087,564 $445,982 165,178 52,858 29,731 303,927 % of Food Sales In addition to calculating the food cost percentage for each of his food categories, Rudolfo wishes to calculate his inventory turnover for the year. (2) Complete Rudolfo's inventory turnover table below. Assume that cost of food sold, part A., and cost of food consumed, part B., are the same for Rudolfo's. (6 points) Rudolfo's Food Inventory Turnover This Year's Beginning Inventory $21,476 $1,708 $772 $160 $10,538 Inventory Category Meats and Seafood Fruits and Vegetables Dairy Baked Goods Other Total This Year's Ending Inventory $17,489 $1,015 $372 $131 $11,035 Average Inventory (3) In which category the turnover is the lowest? (2 points) Value Cost of Food Consumed $445,982 $165,178 $52,858 $29,731 $303,927 Inventory Turnover Rudolfo owns Rudolfo's Italian Ristorante in the Little Italy section of New York City. He wants to compare last year's costs to this year's costs on his food expense schedule to see how he performed in each food category. (1) Help Rudolfo complete his schedule by filling in the blanks in the chart below (6 points). Rudolfo's Food Expense Schedule Food Sales Cost of Food Sold Meats and Seafood Fruits and Vegetables Dairy Baked Goods Other Total Cost of Food Sold Last Year $2,836,517 $386,734 122,915 71,951 20,985 323,778 % of Food Sales This Year $3,087,564 $445,982 165,178 52,858 29,731 303,927 % of Food Sales In addition to calculating the food cost percentage for each of his food categories, Rudolfo wishes to calculate his inventory turnover for the year. (2) Complete Rudolfo's inventory turnover table below. Assume that cost of food sold, part A., and cost of food consumed, part B., are the same for Rudolfo's. (6 points) Rudolfo's Food Inventory Turnover This Year's Beginning Inventory $21,476 $1,708 $772 $160 $10,538 Inventory Category Meats and Seafood Fruits and Vegetables Dairy Baked Goods Other Total This Year's Ending Inventory $17,489 $1,015 $372 $131 $11,035 Average Inventory (3) In which category the turnover is the lowest? (2 points) Value Cost of Food Consumed $445,982 $165,178 $52,858 $29,731 $303,927 Inventory Turnover
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1 Rudolfos food expense schedule is give below Rudolfos Food Expense Schedule Last Year of Food Sale... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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